Changes in golf are common and one that has been recently would be the inclusion of the DP World Tour.
Most people will not have heard of DP World or what it stands for. This is due to the company being from Dubai.
With this in mind, what does DP World stand for?
DP World stands for Dubai Ports World. This is a Dubai-based logistics company with 100,000+ employees and an annual revenue of USD 10 billion. This company has come to the forefront of golf after the European Tour was renamed the DP World Tour.
The DP World ownership took in the time to claim its footing in the world of golf. They believed in the potential of sports and its growth within Europe.
This led the DP world owners to begin staking a claim on the European Tour with their funding.
This guide is going to take a look at what does DP World stand for in DP World Tour, who owns DP World, how DP World Tour compares to the European Tour, and DP World’s net worth as a company.
Who Does DP World Tour Stand For?
DP World Tour stands for Dubai Ports World Tour. In essence, the European Tour that was founded in 1961 was renamed after the company Dubai Ports World. This Dubai-based logistics company is one of the biggest in the Middle East and is now sponsoring the European Tour.
DP World in Dubai is a big name and it is now becoming synonymous with golf in Europe.
Who Is DP World Owned By?
Who owns DP World?
DP World is owned by Dubai’s royal family. The main face of the logistics company is a man named Sultan Ahmed bin Sulayem. He is the current chairman of DP World. Sultan Ahmed bin Sulayem represents the royal family and all of its financial dealings through this logistics company.
The company was founded in 2005 and has now spread across 40+ countries and is well-appreciated for the work it does.
As it continues to grow, it is also entering other niches including golf. This is why DP World in golf is going to be a common thing for golf enthusiasts.
DP World Tour Vs European Tour
Is the DP World Tour the European Tour?
Yes, the DP World Tour is the European Tour and nothing has changed other than the name. This includes where the DP World Tour is hosted along with how it is managed by the team behind it.
It was immediately assumed the DP World Tour would lead to an expansion of the European Tour in golf.
This is incorrect and that type of change has not been enacted by the DP World Group in Dubai.
For now, they are simply looking at a name change and continuing with the same setup.
DP World Tour Prize Money
One of the biggest changes that will come with the inclusion of DP World in golf would be the prize money for the DP World Tour.
The previous prize money was coming in at around USD 130 million for the European Tour.
The DP World Tour’s prize money is going to come in at USD 200 million.
The prize money for the DP World Tour is also going to have a minimum requirement per tournament. This means all tournaments in the DP World Tour are going to have a minimum prize of USD 2 million.
DP World Net Worth
The DP World’s net worth is USD 10 billion and this number continues to rise as the company’s profits increase annually. The company does approximately USD 10 billion in revenue per year and it also has assets associated with the royal family in the region.
This indicates the growing valuation of DP World and how it relates to the world of golf.
Due to its net worth as a company, DP World Tour is also getting a chance to receive additional prize money funds as seen above.
DP World Tour Sponsors
It’s important to note the DP World Tour has brought along with it a set of quality sponsors for the events.
These sponsors for the DP World Tour include:
- DP World
- World Logistics Passport
- Digital Freight Alliance
Additional sponsors may be included in the DP World Tour in the coming years. A lot of funding is coming through to the tour in the form of the DP World Tour.
This is not only from DP World itself but also from the other supplementary companies that are joining in with growing the DP World Tour.
Can LIV Golfers Play In DP World Tour?
No, LIV golfers cannot play in the DP World Tour. There was a hearing that took place in April 2023, which stated the DP World Tour was allowed to suspend and/or fine LIV golfers as they deemed appropriate.
In essence, this means LIV Golfers are not allowed to participate in the DP World Tour.
This has been going on since before the DP World Tour and will continue as golfers join the LIV golf tour.
How Much Do DP World Tour Players Make?
DP World Tour players make a minimum of $150,000 for the season. This was highlighted by the DP World Tour during its announcement on player earnings. This includes an additional prize fund that’s higher than before going up to USD 200 million with a minimum prize of USD 2 million per event.
The reason for this hike in salary has to do with the threat of golfers joining LIV Golf.
What does DP World stand for?
DP World stands for Dubai Ports World, which is an acclaimed logistics company based out of Dubai. It is a representative of the royal family in the region and continues to spread across 40+ nations with 100,000+ employees under its umbrella. It is also renowned for its involvement in golf with the DP World Tour.
Most golfers from the PGA are involved in the DP World Tour demonstrating a desire to enjoy the increased prize fund offered by the DP World Tour.